- Value of scotch exports in 2024 falls 3.7%, totalling GBP5.4bn (US$6.75bn)
- Volumes for the 12-month period increase 3.9% to 109m nine-litre cases
- India regains top position spot for volumes, replacing France
China plummeted from being the fifth-most valuable export market for scotch whisky in 2023 to tenth last year, according to figures released this week, as the value of shipments to the country fell by 31.5%.
According to data from The Scotch Whisky Association (SWA), the total shipments of scotch abroad saw a near-4% rise in volumes, while a decline of the same percentage was recorded in value in the twelve months of 2024.
In terms of volume, India regained the top spot from France in 2024, accounting for 192m 70cl bottles and marking a 14.6% jump. Meanwhile, Japan saw a sizeable increase in volumes of 22.9% as it reaffirmed its position in fourth. China’s volumes only fell marginally to 30m bottles for 2024, despite its more drastic decline in exports by value.
When compared to 2019 levels, Turkey’s volumes have risen spectacularly, by 216.2% from 15m bottles to 47m.
Moving to value terms, and the US still sits comfortably as the top export market for scotch, despite a marginal slip of 0.8% last year to GBP971m. The next three most valuable markets, France, Singapore and Taiwan, all saw double-digit declines compared to 2023’s figures.
However, China’s drop down the table reflected a 31.5% fall from 2023. The SWA did not provide any comment on the performance, but several major spirits brand owners have referred in recent weeks to “soft consumer sentiment” in China over the last year.
Single malt exports fell 17.2% in value terms in 2024, dropping to GBP1.7bn, while ‘bottled blend’ increased by 4.4% and accounted for nearly 60% of global exports.
The trade association said that the data demonstrates a “more normalised depiction of year-on-year exports for scotch whisky”. However, it caveated that “the industry is seeing a global cost-of-living crisis impact consumers in markets around the world, as well as stock management in-market, both of which accounted for a drop in exports”.
The SWA’s CEO, Mark Kent, described 2024 as “a challenging year”.
“Overseas, the tectonic plates of trade are shifting, and exports to traditionally strong markets in the EU and North America have become much more challenging,” he said.
“But support for the industry’s global success starts at home. For too long, the industry has been taken for granted, with the misguided and simplistic belief that decisions taken in Scotland and the wider UK won’t impact an industry which exports 90% of its product, supports a large local supply chain and plays a valuable part in attracting tourists to Scotland.
“The scotch whisky industry is a proven driver of economic growth, jobs and investment, and needs an environment free from the shackles of excessive taxation, regulation and uncertain operating costs.”
